Rep. Young Kim said she questioned Treasury Secretary Scott Bessent about early feedback on TRUMP Accounts and whether Congress should pair the program with financial literacy efforts for young Americans.
New IRS guidance gives eligible farmers and ranchers in drought-affected areas more time to replace breeding, dairy, and draft livestock and defer tax on gains from forced sales.
The IRS said farmers and ranchers forced to sell breeding, dairy, or draft livestock because of drought may get more time to replace animals and defer tax on gains in most of the country.
A new look at the Texas Senate race shows sharply different tax agendas, from new household deductions under Ken Paxton to higher taxes on billionaires and corporations under James Talarico.
A House tax-writing committee advanced H.R. 10357 after proposing a narrow $10 exemption for certain crypto fees, new wash-sale rules, stablecoin basis changes, and ordinary-income treatment for staking rewards.
The Treasury Department and IRS last month proposed treating the refunded portions of four tax credits as federal public benefits, a change the IRS chief said is appropriate under a 1996 law.
The IRS said farmers and ranchers in 82 Nebraska counties may get more time to replace draft, dairy, or breeding livestock sold because of drought and defer tax on eligible gains.
New projections reported Sept. 15 suggest the IRS could raise 2027 federal income tax brackets by 3.2%, modestly widening thresholds across all seven rates if the agency follows through this fall.
A House tax committee moved forward on legislation that would add a narrow $10 crypto fee exception, extend wash-sale limits to digital assets, and set ordinary-income rules for mining and staking.
The IRS said farmers and ranchers forced to sell breeding, dairy or draft livestock because of drought can get more time to replace animals and defer tax on related gains.
Maryland has asked a circuit court to review tax court rulings that invalidated its digital advertising tax, keeping a legal fight alive over a levy tied to education funding and more than $500 million already collected.
A House tax package filed September 15 would exclude certain crypto network fees of $10 or less from gain-or-loss recognition and, for the first time, apply wash-sale rules to digital assets.
House tax writers released a 114-page digital asset bill ahead of a September 16 markup, proposing a $10 fee exemption, crypto wash-sale rules, and ordinary-income treatment for mining and staking rewards.
Senate Finance Committee questions for Jim Gadwood and Andrew De Mello could shape how the IRS handles audits, taxpayer privacy disputes, and court challenges under the Trump administration.
California voters will decide in November whether to impose a one-time 5% tax on the assets of roughly 250 billionaires, a proposal that could raise up to $100 billion but also faces competing measures that could block it.
New projections reported Sept. 14 suggest the IRS could lift all seven federal income tax brackets by 3.2% for 2027, a larger adjustment than the 2.7% increase used for 2026.
NetChoice sued Illinois over a new digital advertising tax and a social media platform fee, arguing the measures target specific speakers and may raise First Amendment, commerce clause, and due process issues.
Treasury and the IRS have proposed regulations that would deny tax-exempt status to private schools with discriminatory policies, with the rules slated to apply to taxable years beginning on or after May 31, 2027.
A Utah divorce buyout highlights a federal tax rule that can spare the spouse receiving cash today while shifting the home’s embedded capital gain to the ex who keeps the property.
New IRS guidance outlines a 2026 emissions rate table, a 2025 safe harbor, and transition rules for the Section 45Z clean fuel production credit, with added detail for manure-derived fuels and regenerative practices.
A report on Florida Senate nominee Angie Nixon said she owed nearly $14,000 to the IRS and about $17,600 in federal student loans, putting attention on payment-plan rules and debt disclosure requirements.
A first required minimum distribution can raise taxable income twice: once through the IRA withdrawal itself and again by pulling more Social Security benefits over long-frozen taxability thresholds.
Treasury and the IRS have proposed rules that would bar tax-exempt private schools from any race-based discrimination in admissions, aid, athletics, and other programs, with an effective date tied to tax years after May 31, 2027.
A growing bipartisan discussion in Washington about raising or removing Social Security’s payroll tax cap could shift more of the program’s funding burden to top earners while helping reduce future benefit cuts.